BlackRock Postpones XRP ETF Plans Amid RLUSD Approval Speculations

## The Buzz in the Crypto World

Recent happenings in the world of cryptocurrency have folks buzzing, especially with XRP. Developments like the [XRP ETF filings](https://www.coindesk.com), the new SEC Chair’s announcement, and the RLUSD stablecoin are stirring the pot. Yet, in a twist that could only happen here, BlackRock isn’t planning to file any ETF application for XRP or altcoins.

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## The Power Broker in Crypto

Now, if you know a thing or two about the financial world, you know BlackRock is no small fry. They’re the powerhouse behind the success of the [spot Bitcoin and Ethereum ETF approvals](https://www.nytimes.com). So, you could say the community had its hopes up for an XRP filing. Their response? A big, fat “not gonna happen.”

Yet, the rumor mill went wild, fueled by a fake filing on the State of Delaware’s website last year. It sent [XRP’s price soaring](https://www.bloomberg.com) by over 15%.

## Why No XRP ETF?

Well, Jay Jacobs over at BlackRock shoots down these rumors faster than a cabbie cuts across Times Square traffic. He said they’re keeping their eyes on broadening Bitcoin and Ethereum ETF accessibility. Jacobs notes, “We’re just at the tip of the iceberg with Bitcoin and especially Ethereum.” You can check the conversation [here on Twitter](https://twitter.com/EricBalchunas/status/1600000954170181634) thanks to Bloomberg’s ETF Analyst Eric Balchunas.

### Focus on Bitcoin, Ether ETFs

BlackRock’s focus is on expanding Bitcoin and Ethereum ETFs. Currently, a small slice of their clients invest in [iShares Bitcoin Trust (IBIT)](https://etfdb.com) and [iShares Ethereum Trust (ETHA)](https://etfdb.com). So, it’s about getting more people in the game, not shuffling in new players like XRP just yet.

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## A Step-By-Step Game Plan

Some investors nod their heads in agreement with BlackRock’s cautious play. This slow and steady approach, they argue, is better than rushing into the volatile hybrid of crypto ETFs. A premature launch could shake up things rather than stabilize them.

In the meantime, Grayscale XRP Trust has been rolling up its sleeves, posting a muscular 300% return since May. As [The BitBoy, Ben Armstrong](https://www.forbes.com), noted, this is a “good sign” for a potential XRP ETF launch stateside.

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## RLUSD News Spikes Speculations

Adding fuel to the speculative fire, the NYDFS has given the green light to Ripple’s stablecoin, RLUSD. This move could create a regulated market for XRP, possibly igniting excitement and a price rally.

### Who’s Taking a Swing?

BlackRock might be sitting this dance out, but not everyone is. Bitwise, Canary Capital, 21Shares, and WisdomTree are all queued up, optimistic about an XRP ETF nod by the end of 2025.

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## What’s Next?

For now, the merry-go-round spins in the financial circus. Ripple CEO Brad Garlinghouse and ETF Store president Nate Geraci, however, remain bullish on the XRP ETF launch. They’re the ones watching the ball, waiting for the pitch.

In the meantime, we wait with bated breath for what’s next in this ever-evolving financial theater. Until then, keep your eye on the crypto scene—it’s a wild ride.

The flurry of recent developments in the crypto world has set the stage for a transformation, akin to the dynamism of New York’s own finance industry. While the talk of XRP ETFs is on everyone’s lips, the realities being faced by major players like BlackRock shape a path full of patience, strategy, and unyielded potential, reminiscent of the city that never sleeps.